CMSC International has issued a research report assigning GEELY AUTO (00175) a target price of HK$32 and a "Buy" rating. The report states that pessimistic expectations for the automotive sector have been fully priced in, with valuations remaining at relatively low historical levels. Driven by new product cycles and advancements in intelligent technology, the firm continues to favor leading automakers for investment, recommending GEELY AUTO, BYD Company (01211), and XPENG-W (09868), while also noting short-term trading opportunities for NIO-SW (09866).

On March 16, ZEEKR launched its new high-performance large five-seat flagship SUV, the ZEEKR 8X, and began pre-sales with a price range of 376,800 to 516,800 yuan. The company disclosed that pre-orders exceeded 10,000 units within 38 minutes of opening and continued to approach the 20,000 mark, indicating robust market demand. According to third-party channel surveys, the majority of potential consumers opted for the 396,800 yuan configuration, which falls near the median of the pre-sale price range and accounts for close to 40% of orders. By the evening of March 16, orders had reached 17,000 units, with the high-end trim model, the Yao Ying edition, comprising 29% of the total.

Considering that official vehicle launches are typically accompanied by price adjustments or additional benefits, order volumes are expected to increase further after the model's official market debut in April. ZEEKR's product portfolio continues to move upmarket, reinforcing its positioning as a premium brand. The volume growth of high-end models may lead to positive surprises in profitability expectations, supporting the continued recommendation of GEELY AUTO.